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Is an historic stock market crash unfolding on Wall Street?

We sure don’t know, and the pundits on CNBC and FBN are almost unanimous in saying there is nothing to worry about. Well, how many of them saw this month’s drop coming in the first place? Why should you listen to them now?

Here’s the past five days of US stock market trading (QQQ), courtesy of Trading View. Feel free to change the symbol, add lines and indicators etc, as you need.

5-Day Market Recap

Market Update – Tuesday 12/18/18 4:00 PM EST

After the drubbing over the last few trading days, the SkyNet BuyBots finally attempted a serious bounce. But the opening rally quickly gave way to yet another round of massive selling into late afternoon, erasing all of the gains. The BuyBots regained their footing and pushed stocks modestly into the green at the close. The DJIA closed up 82 points (0.2%) and the NASDAQ recovered 157 points (2.3%).

Stay tuned as the battle of the SkyNet StockBots continues!

Market Update – Monday 12/17/18 4:00 PM EST

It was Groundhog Day all over again on Wall Street. Yet again US stocks got smashed, bashed and trashed as the SkyNet SellBots again applied massive selling pressure and were relentless in driving stocks lower almost unabated all day.A last-minute appearance by the SkyNet BuyBots trimmed the days losses a bit but it was too little too late. The DJIA plunged another 507 points (2.1%) and the NASDAQ surrendered 157 points (2.3%).

Stay tuned as the battle of the SkyNet StockBots continues!

Market Update – Friday 12/14/18 4:00 PM EST

In a replay of last Friday, US stocks got smashed, bashed and trashed yet again. The SkyNet SellBots again applied massive selling pressure and were relentless in driving stocks lower almost unabated all day. The DJIA plunged 496 points (2.0%) and the NASDAQ surrendered 160 points (2.2%).

Stay tuned as the battle of the SkyNet StockBots continues!

Market Update – Thursday 12/13/18 4:00 PM EST

The SkyNet StockBots battled it out to a mixed close on Wall Street today. US stocks again got an opening bump from the BuyBots and the overnight futures. From there, stocks zigged and zagged their way into the close. The DJIA gained 70 points (0.3%) and the NASDAQ slipped 28 points (0.4%).

Stay tuned as the battle of the SkyNet StockBots continues!

Market Update – Wednesday 12/12/18 4:00 PM EST

It was yet another wild ride on Wall Street today. Again, the SkyNet BuyBots were juiced up overnight, pushing US stocks sharply higher into the opening of trading. The rally continued until precisely 1:00 PM EST (funny how that happens) when the SkyNet SellBots awoke and substantially cut the day’s gains into the close. The DJIA, up 400 points in early afternoon, closed up 157 points (0.6%). The NASDAQ ended with a gain of 66 points (0.9%).

Stay tuned as the battle of the SkyNet StockBots continues!

Market Update – Tuesday 12/11/18 4:00 PM EST

It was yet another wild ride on Wall Street today. The SkyNet BuyBots were juiced up overnight, pushing US stocks sharply higher into the opening of trading. But it didn’t take long for the SellBots to yet again apply massive selling pressure,reversing all of the early gains and then some. A late-day rally took the markets into a mixed close. The DJIA, up 400 points early, closed down 53 points (0.2%). The NASDAQ ended with a gain of 11 points (0.2%).

Stay tuned as the battle of the SkyNet StockBots continues!

Market Update – Monday 12/10/18 4:00 PM EST

It was another wild ride on Wall Street today. The StockBots were essentially asleep overnight, as the futures were flat going into the opening of trading. But it didn’t take for the SellBots to yet again apply massive selling pressure, driving stocks sharply lower. At precisely 11:00 AM EST (funny how that happens), the SellBots became exhausted and the BuyBots took control, sparking a monster rally that actually recovered more than the early losses. The DJIA, down 600 points early, closed up 34 points (0.1%). The NASDAQ ended higher by 51 points (0.7%).

So where do the markets go from here? We sure don’t know.

And anybody who claims to know exactly what’s coming is lying to you. The entire global financial system is in unprecedented, uncharted waters.

Global debt is much worse than it was in 2007.

Mega-trillions in derivatives trade every day like $1.00 dog-racing trifecta tickets.

Despite twelve years of near-zero interest rates, global economies other than the US are barely registering a pulse.

And on and on.

How bad are things? How unprecedented and uncharted?

Several Central Banks have entered the monetary Twilight Zone by cutting their benchmark interest rates to below zero. That’s right, if you’re a big bank, you can actually “make money” by borrowing money. When the loan comes due, you pay back less than the amount you borrowed. What a deal!

And the perverse flip side of negative interest rates is that when you deposit your hard-earned money in the bank, not only do you not earn any interest, the bank charges you a fee just for the privilege of making the deposit. You have less and less money in your account every day. What a rip-off!

All of this financial insanity can only be seen as a desperate last-resort attempt by Central Bankers to stimulate their economies by force-feeding them with “better than free money”. (Free money that is conjured up out of thin air with a few mouse clicks, that is.)

About the best we can say for the markets ahead is “expect the unexpected.”

But if there’s one thing that allstock market analysts and forecasters agree upon, it’s that “markets don’t move in straight lines” (at least not for very long). Look at any chart of any stock, any commodity, anything that is traded on an open market and you just don’t see long straight lines.

So if markets don’t move in straight lines, how do they move? Again, look at any chart and it’s obvious: markets move in zigs and zags. A more technical term for zigs and zags is waves. And there is no better way to analyze and interpret chart waves than with Elliott Wave analysis.

Founded in 1979 by Robert R. Prechter Jr., Elliott Wave International(EWI) is the largest independent financial analysis and market forecasting firm in the world. EWI’s analysts cover every major market (stocks, currencies, bonds, energy, metals, commodities) worldwide, 24 hours a day.

The stock market waves have been warning of a major market meltdown for quite some time. Has that moment finallyarrived?

As Bob Prechter warned, and as the market action during the 2008-2009 financial crisis proved,

“Bear markets move fast and are intensely emotional;investors and traders who are prepared have greateropportunities on the downside than on the upside.”

We urge you to stay on top of the latest market action with commentary and reports from our friends at Elliott Wave International, below.

What are the “SkyNet StockBots?”

Remember the great Terminator movies?

SkyNet was the global artificial intelligence network that the politicians and technicians designed to essentially run the world "for the benefit of mankind." However, they didn't anticipate SkyNet evolving and becoming conscious in it own right. SkyNet proceeded to explode nuclear weapons around the world, killing half of Earth's population.

The infallible Wall Street wizards have created their own version of SkyNet called High Frequency Trading.